After over a decade locked away in a Mumbai bank vault, 25 rare and unseen paintings by MF Husain, India’s iconic modernist, are set to be auctioned. These works, part of an ambitious series titled “An Artist’s Vision of the XX Century”, capture global events through Husain’s vibrant brushstrokes—yet were hidden from public view due to one of India’s most dramatic art-business collapses.
“It’s like the paintings have come full circle,” says Dadiba Pundole, director of the Pundole Art Gallery.
The Billion-Rupee Art Deal That Shocked India
In 2004, MF Husain entered into a ₹1 billion ($12M) agreement with businessman Guru Swarup Srivastava for a series of 100 paintings. The first 25 were completed and handed over. The media dubbed it “India’s biggest art deal.”
However, by 2008, the Central Bureau of Investigation (CBI) alleged that Srivastava misused loans intended for agriculture by investing in real estate, mutual funds, and Husain paintings. The deal collapsed, and a tribunal seized the 25 artworks as part of asset recovery.
Art Locked in Legal Limbo
The paintings remained in bank vaults until a court ruling in early 2025 cleared them for auction. The auction is expected to fetch $29 million, potentially setting new records in Indian art history. This follows the sale of Husain’s Untitled (Gram Yatra) at Christie’s for $13.8 million, the most expensive Indian painting to date.
What the Paintings Reveal
WWII and trench warfare scenes
A tribute to Charlie Chaplin next to a rocket launch
Symbolism of global unity and dialogue
Commentary on Partition, poverty, and the Holocaust
These paintings are more than art—they’re historic, bold, and deeply introspective representations of the 20th century’s defining moments, executed in Husain’s iconic, unfiltered style.
Why Srivastava?
Though Srivastava was virtually unknown in elite art circles, Husain didn’t mind. “He didn’t care. As long as his paintings were sold,” said Pundole. However, legal issues prevented Srivastava from funding the second installment of the series.
A Reclaimed Legacy
The auction on 12 June 2025 is not just a commercial event—it is a symbolic moment in Indian art. After years buried in vaults, these masterpieces will finally be seen and appreciated by the public, reaffirming MF Husain’s place in global art history.
